MENA and Europe

The Middle East and North Africa (MENA) and Europe is the largest region by population with 10.7 percent of world population. The average annual population growth rate is 1.8 percent in 2018.

The income levels varies from high-income countries of MENA such as Qatar, Kuwait, Saudi Arabia and UAE benefiting from oil-dominated economies, in contrast to lower-income countries such as Yemen. The Region also covers some Asian countries namely Afghanistan, Azerbaijan, Iran, Pakistan, and Turkey.

The short-term challenges of the MENA countries range from sustaining growth momentum and strengthening fiscal and financial stability, to managing capital outflows, and reducing income inequality. Region needs stability in the short-term by building resilience to external shocks, strengthening their fiscal, financial and political stability, addressing issues of economic competitiveness and diversification and reducing income inequality. Countries from Asia region like Afghanistan, and Pakistan have high incidence of poverty, whereas Azerbaijan, Iran, and Turkey have economic stability.